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Old 29-12-2012, 16:48   #1
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Catalina 42 Fractional Ownership in the BVI

Catalina 42 Sailboat partnership share is offered in established group with professional maintenance.
The share is for two weeks use the same time frame each year.
The period is the second and third weeks of December. It always ends the Tuesday before the the first Thursday just before Christmas.
The partnership owns the sailboat outright.
Details at the groups web site sailboatpartners.com.
Sailing experience and a sailing resume are required for approval from the partnership.
The sailboat is ready to sail on your arrival with everything on board that is needed including linens/towels.
Purchase price is a one time cost.
Maintenance fees are $240/month payable quarterly on January 1st, April 1st, July 1st and October 1st.
The January 2013 payment has been paid.
The sailboat is kept at a marina on the island of Tortola in the British Virgin Islands, about a mile from the Airport.
There are 20 such periods. The boat is worth about 120K, give or take. December is a better than average period. I'm asking just $5,500.
For more information, call Dave at 360 six oh nine 8080.
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Old 29-12-2012, 20:31   #2
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Re: Catalina 42 Fractional Ownership in the BVI

Are you saying that the mantenance fees are $240.00 X12= $2880.00 per year? or are they $240 quarterly or $960.00 per year?
How old is the boat?
If you are paying almost $3000.00 per year for a 2 week period, and the boat is getting older, I would love to be the one's mantaining the boat. This also works out to 1440.00 per week X 52weeks is 74,880.00 per year you guys are paying in mantenance. Can this be correct?
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Old 29-12-2012, 20:41   #3
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Re: Catalina 42 Fractional Ownership in the BVI

i'm reading in the same thing you are rocketman. sounds awfully expensive. but i do note that it says the boat is ready to sail on your arrival with everything on board. so how does that price compare to an ordinary charter out of the caribbean?
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Old 29-12-2012, 20:47   #4
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Re: Catalina 42 Fractional Ownership in the BVI

I think that on average, a week on a bare boat charter for a 40ish ft mono is around $3000.00 per week. But the boat will be very new, and you are not married to it. My concern would be if this boat is older, it may be time for a new one and who knows what would happen to the shares if that happens.
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Old 29-12-2012, 21:28   #5
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Re: Catalina 42 Fractional Ownership in the BVI

I looked at their website. 1998 Catalina 42. $5500 to buy in and then $240 per month. I guess you try to sell your share if you want out, or if the group decides to sell, whatever they net from the boat gets split between the owners (looks like 26 shares). So if a charter is $3k per week all inclusive, this membership gets you sailing at half price plus a small share of any profits if/ when the boat is sold. But looks like no flexibility - it's pretty much a boat time share.
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Old 31-12-2012, 17:37   #6
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Re: Catalina 42 Fractional Ownership in the BVI

It looks like you folks have it sussed out correctly. The fees are paid quarterly. The rate is $720 per quarter. She's a 1998 three cabin model. There are just 20 shares (the boat is on the hard in the summer). The maintenance sum calculated by Rocketman is high by that factor.

The sum of the fees is a big chunk of change but it includes insurance, turnaround fees, haulout and bottom paint, storage during the hurricane season, profession management, engine reserve, sails, chain, canvas etc. It's not cheap keeping a boat in the Caribbean. And that sum assures that we have a boat in good working order. The partnership is well run and we don't cheap out. She does not look fifteen years old.

There were comments questioning value. Compare the cost of chartering for two weeks. I think the $3,000 per week figure is a bit low for December and it would not include the very expensive insurance you must buy. Correct me if im wrong, but that is close to $100 a day - MANDITORY. You are getting a very nice boat for a very small fraction of the cost to charter for just one week, but instead you get two weeks. I think the value issue would be self evident to those in the habit of chartering.

The subject of replacing her with another boat has not come up, at least that I'm aware of. The price I'm asking is roughly equal to one-twentieth of the value of the boat, so that should not be a concern.

One other important point. This boat has a dive tank, wind generator, a kayak (new this week) and you can leave your snorkeling gear aboard if you don't mind sharing. You don't get that with a charter boat.

Thanks for helping me flesh this out.
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Old 31-12-2012, 18:22   #7
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Re: Catalina 42 Fractional Ownership in the BVI

Thanks for the explanation, I guess it really is a decent deal. I have never chartered a boat and was not aware of the hidden costs that you decribe. It does make me want to buy a few older boats and sell shares however. I am sure it isn't that easy, but still 20X2880 works out to 57,600 per year in mantainace insurance, and administrative per year per boat.
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